OTTAWA – Statistics Canada says the country’s trade surplus narrowed in June to $136 million, as both exports and imports dropped largely due to trade decreases in crude oil, aircraft and other transportation equipment and parts.
The federal agency says exports fell 5.1% to $50.3 billion, offsetting a strong gain in May amid a 3.6% drop in export prices.
Exports of crude oil dropped 8.6%, the first monthly decrease this year, as crude oil export prices fell 13.5% even as volumes rose 5.6%.
Aircraft exports, meanwhile, were down 40.8%, mainly on lower shipments of commercial aircraft to the United States.
Imports were down 4.3% to $50.2 billion, the lowest level since November 2018.
Analysts had expected a trade deficit of $300 million, according to financial services firm Refinitiv.
June’s surplus narrowed from a stronger $556 million in May.
News from © Canadian Press Enterprises Inc. 2019